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| Alibaba buys stake in online shopping firm ShopRunner: report Friday, Aug 16, 2013 06:20 PM PDT  NEW YORK (Reuters) - Chinese e-commerce company Alibaba Group, which is preparing for an initial public offering in Hong Kong, has bought a minority stake in online shopping company ShopRunner, the Financial Times reported on Friday. The acquisition is part of a string of investments by Alibaba, the world's largest e-commerce group, as it prepares for its IPO, the FT said, citing people familiar with the transaction. Alibaba is paying $75 million for the stake in ShopRunner, run by former Yahoo Chief Executive Scott Thompson, the FT reported. ... Full Story | Top |
| Icahn's bid to fast-track key Dell lawsuit fizzles out Friday, Aug 16, 2013 03:59 PM PDT  By Dave Warner WILMINGTON, Delaware (Reuters) - Activist investor Carl Icahn's legal effort to derail a $25 billion takeover of Dell Inc stalled after a judge refused to fast-track his lawsuit against the personal computer maker, blunting an integral part of his months-long opposition campaign. Delaware Court of Chancery Judge Leo Strine on Friday waved off Icahn's request to accelerate the lawsuit, dismissing claims that the company and its board wronged shareholders by accepting an undervalued offer from Chief Executive Michael Dell. ... Full Story | Top |
| Ad technology company Rocket Fuel files for IPO Friday, Aug 16, 2013 03:23 PM PDT (Reuters) - Advertising technology company Rocket Fuel Inc filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock. Credit Suisse and Citigroup are acting as lead underwriters for the offering, Rocket Fuel said in a regulatory filing with the U.S. Securities and Exchange Commission on Friday. (http://r.reuters.com/hez42v) The Redwood City, California-based company uses artificial intelligence and big data to help customers place their ads on websites and mobile networks. It had 784 active customers, as of June 30. ... Full Story | Top |
| AOL makes deep job cuts at local news group Patch Friday, Aug 16, 2013 02:19 PM PDT  By Liana B. Baker (Reuters) - AOL Inc said on Friday that it would cut a substantial number of jobs at its money-losing Patch local news site business, and a source close to the company said about half of the staff of 1,000 was being laid off. Job cuts will reduce 10 percent of AOL's workforce, the company said in a regulatory filing late on Friday. (http://r.reuters.com/bez42v) AOL had 5,600 employees at the end of 2012, according to a February regulatory filing. The company said on Friday that it expects to incur charges of $14 million-$18 million this year related to the job cuts. ... Full Story | Top |
| China seen probing IBM, Oracle, EMC after Snowden leaks Friday, Aug 16, 2013 01:08 PM PDT  SHANGHAI (Reuters) - China's Ministry of Public Security and a cabinet-level research center are preparing to investigate IBM Corp, Oracle Corp and EMC Corp over security issues, the official Shanghai Securities News said on Friday. The report follows revelations by former U.S. spy agency contractor Edward Snowden of widespread surveillance by the National Security Agency. It also comes as Beijing probes Western drugmakers over allegations of bribery and over-pricing. ... Full Story | Top |
| Canada's telecoms to change tack in anti-Verizon crusade: sources Friday, Aug 16, 2013 12:57 PM PDT  By Alastair Sharp and Euan Rocha TORONTO (Reuters) - Canada's three biggest wireless companies plan to attack Verizon Communications Inc's role in the U.S. government's electronic spying scandal, as they scramble to force Ottawa to rethink rules that encourage Verizon to set up in Canada, according to four sources. The Canadian government has so far spurned an intense lobbying effort from the trio - Rogers Communications, BCE Inc and Telus Corp - by insisting its policies will cut Canadians' wireless bills. ... Full Story | Top |
| Virus targets the social network in new fraud twist Friday, Aug 16, 2013 12:17 PM PDT  By Jim Finkle BOSTON (Reuters) - In the world of cyber fraud, a fake fan on Instagram can be worth five times more than a stolen credit card number. As social media has become increasingly influential in shaping reputations, hackers have used their computer skills to create and sell false endorsements - such as "likes" and "followers" - that purport to come from users of Facebook, its photo-sharing app Instagram, Twitter, Google's YouTube, LinkedIn and other popular websites. ... Full Story | Top |
| Chubby Checker can sue HP over genital-measuring app, judge says Friday, Aug 16, 2013 10:39 AM PDT  By Dan Levine SAN FRANCISCO (Reuters) - The musician famous for the Twist dance style can sue Hewlett Packard Co over allegations that the tech company used his trademarked name "Chubby Checker" on a software app that purports to measure a man's genitals. In a ruling on Thursday, U.S. District Judge William Alsup in San Francisco ruled that Ernest Evans - known professionally as Chubby Checker - can move forward with trademark infringement claims against HP and its Palm unit. HP spokesman Michael Thacker on Friday said the app was not created by HP or Palm. ... Full Story | Top |
| China shuts shopping site for court workers over graft concerns Friday, Aug 16, 2013 04:27 AM PDT BEIJING (Reuters) - Chinese authorities shut down a shopping website offering deals to workers at courts on everything from beauty products to cars as the government clamps down on corruption and the legal system tries to recover from a series of scandals. The China Courts Shopping Network, where court workers had to log in with details that identified who they worked for, went off line this week after newspapers questioned its purpose. ... Full Story | Top |
| For China's Xiaomi, it's what's on the inside that counts Friday, Aug 16, 2013 01:05 AM PDT  By Paul Carsten BEIJING (Reuters) - Two years after its high-quality, budget smartphone won over millions of Chinese fans, domestic tech firm Xiaomi Tech wants to make more money from online shopping and games than it does from selling its handsets. Xiaomi is better known globally as China's answer to Apple Inc, an image that billionaire Lei Jun has fostered since he founded the company in 2010 by dressing in the black tops, jeans and sneakers favored by the late Steve Jobs. ... Full Story | Top |
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